August 1, 2014

Higher Education in Florida

Higher Ed: Non-Profits, For-Profits and Historically Black Colleges and Universities

Cynthia Barnett | 6/29/2011

Keiser Goes Non-Profit

Keiser University
[Photo: Keiser University]

In 1977, mother and son Evelyn and Arthur Keiser founded a for-profit career college in a storefront near Fort Lauderdale to cater to students seeking careers in healthcare. Over time, the Keiser School morphed into an Institute of Technology, then Keiser College, and finally, Keiser University, along the way earning SACS accreditation in 1991 and offering bachelor's and master's degrees.

Today, Keiser offers everything from a doctorate in educational leadership to an associate degree in golf management on 14 Florida campuses and sites in Shanghai and Moldova. Its biggest impact on the state's private college community may have come earlier this year, however, when the Keiser family transitioned the company to a non-profit.

Belinda Keiser, vice chancellor of community relations and student advancement and the wife of CEO Arthur Keiser and former chair of Workforce Florida, positions the change as "our way of continuing the school after the family is gone."

Scott A. Cihak
Belinda Keiser

The move also eliminates the company's tax burden. More important to the other non-profits, it makes Keiser's Florida students eligible for Florida Resident Access Grants — diluting the pool of FRAG funds available to students at the other schools. Lawmakers agreed to bring the university's students under the grant in phases, adding a $4-million line item for Keiser in this year's state budget.

Non-profit status also deflects ongoing federal and state scrutiny of for-profit schools. The U.S. Department of Education is threatening to restrict federal dollars to for-profits, which rely on federal grants and student loans for up to 90% of revenue. At Keiser, it's 75%.

Full Sail University
Full Sail University, an entertainment media school [Photo: Full Sail University]

For-Profit Colleges & Universities - The Top 5, Ranked by Enrollment
Rank Institution Main Campus Location Enrollment
Fall 2010
1
University of Phoenix Orlando 21,600
2
Everest University Tampa 10,924
3
Full Sail University Winter Park 5,476
4
DeVry University Orlando 4,514
5 Rasmussen College Holiday 3,982

» GET THE FULL LIST:
Florida's For-Profit Colleges & Universities

Florida Colleges

The full list of 18 For-Profit Colleges and Universities in Florida is available for download in Excel format. The list includes additional data not published in Florida Trend -- including locations, tuition, phone, fax, website, full school address and more. Cost: $19

For more information, and to find out how to download, click here.

Tags: Education

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single ditgital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Major archaeological discovery unveiled
Major archaeological discovery unveiled

In roughly 15 feet of water about 1,000 feet offshore from Fort Pierce, shipwreck salvager Eric Schmitt made a major archaeological discovery.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Your thoughts about fast-food workers joining unions:

  • Good idea - they need more bargaining power (and possibly higher wages)
  • Not in favor - bad for business and the price of burgers

See Results

Ballot Box
Subscribe